The machine learning-as-a-service (MLaaS) market analysis considers sales from segments including BFSI, retail, telecommunications, healthcare, manufacturing, and other end-users.
Factors such as the increasing investments of BFSI companies in MLaaS to reduce costs and improve risk management will play a significant role in the BFSI segment to maintain its market position.
Also, the global MLaaS market report looks at factors such as increased adoption of cloud-based offerings, increasing the use of ML in customer experience management, and ML in predictive analytics.
This will open new opportunities for revenue growth of enterprises and lead to the expansion of the global MLaaS market at a CAGR of over 38% during the forecast period.
This drives the need to manage and track the inventory movement of items, which can be done using MLaaS. The use of MLaaS by retail companies for inventory optimization and behavioral tracking is expected to have a positive impact on the overall market growth.